WEEKLY TECHNICAL ANALYSIS OF ZEEL FOR 08-12 AUG

LAST WEELY RECOMMENDATION:

IN BULLISH MOMENTUM: ZEEL HIT TGT 510 MADE HIGH OF 511.80

LOT SIZE: 1300

WEEKLY TOTAL PROFIT: 22880 IN JUST TWO LOT

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“BUY ZEEL ABOVE 500 TGT 510/520”

“SELL ZEEL BELOW 490 TGT 485/477”

WEEKLY CHART FOR MARUTI:

Primary trend of the stock is bullish and after giving breakout of its range bound movement, it is forming continuation pattern in short term charts, it is likely to continue the positive movement with the breakout of the pattern at the levels of 470 ; as the stock is managing to trade above its 50 and 200 days moving averages with the RSI of 70, one may expect the targets of 520  in the stock if it manages to sustain above the immediate support level of 490. The stock is in bull run and is forming a reversal pattern also in short term charts, it is likely to show correction with the breach of the support level of 480, where one may initiate the short position in it for the targets of 455, while stop loss can be placed at 510.